Does Condo Insurance Cover Loss of Use?

If you own a condo, insurance is a necessity. Condo insurance is distinct from homeowner’s insurance because condo owners face different challenges than those who own single-family homes on their own property. FB Taylor serving Nederland, TX understands that you may still have questions about condo insurance and loss of use.

For instance, you may not be able to use your condo because a natural disaster caused damage to part of the building you live in. So, what do you do when you are not able to access your condo? This is where loss of use coverage comes in.

Condo Insurance Includes Several Components

You may already be familiar with some components of a typical condo insurance policy. For instance, you might know that condo insurance often covers personal property, like the items inside your condo, and personal liability. You can also incorporate other add-ons to your plan for special circumstances. In many cases, a default condo insurance policy already includes loss of use.

Understanding Loss of Use Coverage

When you get loss of use coverage, it kicks in when a condo is considered uninhabitable, which can happen suddenly. You may be forced to stay elsewhere, like at a hotel. This can become a major nuisance in your life, especially because loss of use is often not the fault of the condo owner. The good news is that condo insurance can help relieve the burden of being displaced.

What Kind of Condo Insurance Do You Need?

Each insurance policy is different, which is why it is so important to speak with an insurance agent before you commit to a policy. If you want to learn what kind of loss of use coverage your condo insurance policy covers, get in touch with FB Taylor, which services Nederland, TX.